THURSDAY. APRIL 26. 1962
MEDFORD MAIL TRIBUNE. MEDFORD. OREGON
Net Farm Income
Expected To Hit
$12.7 Billion
Washington - (IIPII - The Ag
riculture Department said
Wednesday net farm income
In. 1962 is expected to total
around $12.7 billion - the
same amount estimated lor
1061 and the highest since
1953.
.. This prospect for a contin
uation 'of the farm income sit
uation as it existed last yea!
assumes average growing con
ditions, strong domestic de
mand for agricultural pro
ducts, and a continued large
exbort movement of farm
commodities.
I In a review of the farm in
come situation, department
economists said realized gross
farm income in 1962 likely
will be slightly more than $40
billion, up somewhat from
the $39.6 billion in 1961.
Hioher Prices Seen
The anticipated increase in
1'962 gross receipts will result
from a continued large vol
ume of farm marketings, high-ex-1
crop prices, and increased
government payments. An ex
pected further rise m tarm
riroduction expenses probably
Mflll offset most of the in
crease in realized gross In
come. n addition to slightly larg
er' cash receipts from mar
ketings in 1962, government
payments to farmers likely
Will exceed the $1.5 billion
paid out in 1961. Payments
for reduced acreage this year
Under the 1962 wheat pro
gram are expected to account
for most of the Increase over
1961. Payments under the
iD62 feed grain program
again will add materially to
farmer's gross receipts this
year.
Raits To Continue
As for farm costs in 1962,
fjie economists said the per
sistent rise in the prices paid
b$ farmers for production
items, Interest, taxes, and
wage rates seems likely to
continue throughout the year.
breeding requirements are
expected to be higher in 1962
and this likely will result in
an Increased bill for feed pur
chased by farmers. Fertilzier
prices have been edging up
ward, and prices paid for seed
are higher than a year ago.
,. The economists predicted
cash receipts from farm mar-
Ratines this year will exceed
slightly the $34.8 billion of
1061. For livestock and live
stock products, marketings
are expected to reach a rec
ord high and average prices
likely will be lower than in
1961. Crop marketings prob
ably will be smaller while
prices will average higher.
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